after missing a nice and profitable on EURUSD we have another chance to hop on the trend in another USD pair. This time it's the AUDUSD turn.
We recently broke to the downside a and we are now heading back to retest the most recent lows.
In higher timeframe we are "free falling" cause we've broken support after support.
I've outlined a blue box with the helf of . My zone would be between .618 and previous highs (in order to have a decent risk to reward).
If and when price will give me an candle on 15m or a in 5m i'm selling this.
You can trade this setup with one single target at the retest of the lows and have about 2:1 RR or you can split your position in two and take the first target at 1:1 and the second with structure (or even with extensions).
I'll let you know if i go short.
If you have any question, please do below.
Otherwise, see you in the next chart!
Stop Loss: 0,7268s